What will it take for Web3 to completely replace Web2?

Web3 is the buzzword on everyone’s lips – but when you put the mania aside, there’s a burning question that needs to be asked: can these projects completely replace Web2… and what’s stopping that from happening?

The likes of Google and Facebook made a killing in the Web2 era, amassing billions of dollars in profits and influencing the shape of the Internet. But their continued influence is not guaranteed. A 30-year history of the web has seen companies fail at the same time…MySpace is a classic example.

In addition to countless concerns about how user data is collected and used, and content creators not being adequately compensated for their hard work, Web3 is positioning itself as a democratic force that puts power back in the hands of the people. Even the web2 giants themselves see the potential of this new approach – it’s been a year since Facebook announced plans to change its name to Meta and focus on Metaverse.

While the vision and ambition of Web3 startups is to be admired, there are challenges that need to be addressed. Critics rightly point to the massive power consumption of some blockchains—especially those based on a proof-of-work consensus mechanism. They argue that creating a level playing field online cannot be linked to environmental protection. And with a growing number of DeFi protocols and cross-chain bridges falling victim to eye-watering hackers, with billions of dollars lost, there are also security issues to consider.

In order for Web3 projects to achieve their full potential, the infrastructure they rely on must have fully decentralized data management—and that means eliminating dependence on centralized cloud providers like Amazon Web Services. Owners should also be in the driving seat, and blockchains should be immutable, scalable and more eco-aware. There is no point in checking all these factors.

Big ideas, worrying dental problems

Metaverse is considered a $1 trillion opportunity by JPMorgan – the silver bullet that will revitalize the music industry and reinvent the way we work and play. But before virtual worlds can go mainstream, they must overcome difficult security and privacy challenges. Lack of mutual support also risks standing in the way of adoption. And while the Internet was pretty cool in its early days, Metaverses have a long way to go before they become usable and recognizable. People who are not familiar with blockchain technology have little desire to use it.

And this brings us to other proposed use cases for blockchains. Many entrepreneurs strongly believe that these immutable ledgers can drag the healthcare sector into the 21st century – making medical records truly digital and easily transferred between facilities. Here’s the problem: This is an industry with massive amounts of data, and patient confidentiality is sacrosanct. Huge opportunities lie ahead for networks that can achieve interoperability, immutability, security, transaction transparency and medical data sovereignty. Blockchain would be nothing short of revolutionary if it tackled the volume of counterfeit drugs in this space – by some estimates, 10% of drugs in circulation are counterfeit.

So… what’s the answer?

Enery is a layer 1 blockchain that aims to solve some of these burning issues – seamlessly connecting systems, applications and redundant networks. Its database management solution, IneryDB, champions high throughput, low latency and complex query searching – all while ensuring that data assets are fully under the control of their owners.

The team behind this proof-of-stake network claims it is scalable, resistant to Sybil attacks, energy efficient, secure and fast – capable of 5,000 transactions per second, with new blocks created every half second. All this is done without any harm to security.

Inri CEO Dr. Navin Singh told Cointelegraph: “With Inri, our efforts are focused on designing decentralized, secure and environmentally sustainable database management. Inri enables an affordable and scalable solution that enables people to extract and manage data assets. Data Access To enable a new paradigm.

Inri claims to have achieved several major milestones, and is listed on Huobi. The network’s testnet has just launched, and has received a $50 million investment commitment from GE — as well as other contributions from Metavest and Truth Ventures. It also attracts big-name talent. The founder of Orange Telecom now serves as chairman, and is joining from Apple’s former vice general counsel of global marketing.

Looking ahead, the project seeks to enter into strategic partnerships that unlock compelling use cases for the systems across multiple industries. Mainnet is expected to launch in the first quarter of 2023 – paving the way for developers and users to discover exactly what the future of Web3 should look like.

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